1976 nickel

Canada Nickel Expands Timmins Nickel District - Acquires 13 Additional Highly Prospective Nickel Properties in Timmins Region

Highlights

  • Acquisition of 13 additional target properties consolidates district scale potential.
  • Combined target surface footprint of 37.7 square km – 40 times larger than current Crawford Main Zone resource of 0.85 square km.
  • Ten target properties have larger footprint than Crawford and nine confirmed to contain the same host mineralization as Crawford.
  • Sothman target property has historical higher grade, shallow resource of approximately 190,000 tons of 1.24% nickel (with 300 metres strike length) 1 ; remaining 2.2 km of strike length is largely untested.
  • Four target areas have yielded drill intersections of > 0.3% nickel including:
    • Sothman: 2.31% nickel and 0.19% copper over true width of 3.2 metres within 1.58% nickel and 0.12% copper over true width of 8.6 metres from 41 metres;
    • Deloro : 0.38% nickel and 0.22 g/t PGM over core length of 15.5 metres within 0.28% nickel and 0.09 g/t PGM over core length of 299 metres from 241 metres;
    • Midlothian: 0.24% nickel over core length of 345 metres, including 0.30% nickel over 42 metres;
    • Mann Southeast: multiple 3 metre intervals grading 0.31-0.33% nickel within 111 metres of dunite across entire core length

Canada Nickel Company Inc. (" Canada Nickel " or the " Company ") (TSXV: CNC) (OTCQX: CNIKF) today announced that the Company has concluded 18 separate transactions resulting in the outright acquisition or earn-in to 13 additional target properties within a radius of 95 km of the Company's flagship Crawford Nickel-Sulfide Project, consolidating Canada Nickel's position in the Timmins area.  Each of the additional properties contains one or more ultramafic targets based on combinations of historical geophysical work and drilling over the past 65 years. See transaction summary at the end of the release for a summary of the acquisition terms.

"The acquisition of these highly prospective target properties represents a transformational milestone for Canada Nickel, on par with the initial discovery of our flagship property, Crawford. The consolidation of these properties underscores our strong belief in the district-scale potential of the Timmins region and in our journey to become a leader of the Next Generation of Nickel Supply – large, scalable, low carbon nickel supply," said Mark Selby , Chair & CEO of Canada Nickel. "These properties have combined target structures 40 times the scale of the structure which hosts our current Crawford Main Zone resource (contained nickel of 1.56 million tonnes M&I + 0.76 million tonnes inferred 2 ), and like Crawford, all these target structures are near excellent infrastructure. Each target has had some amount of historical work, and in some cases, much more than Crawford did initially, confirming these targets contain the same serpentinized dunite and/or peridotite that hosts Crawford mineralization and, as our last release reported, has the potential to permanently sequester CO2."

______________________

1 See Statement Regarding Historical Resource Estimates on page 27 of this press release.

2 See Preliminary Economic Assessment, titled "Crawford Nickel-Sulphide Project National Instrument 43-101 Technical Report and Preliminary Economic Assessment", with an effective date of May 21, 2021

Figure A – The Timmins Nickel District

The Company will host a conference call and webcast today, Monday, November 22, 2021 , at 10:00 a.m. EDT , to discuss the property acquisitions and answer questions related to the advancement of the Timmins Nickel District (see details at the end of this announcement).

Sothman

Sothman is a property of approximately 1,000 ha located 70 km south of Timmins.  The project was acquired from Glencore.

The Sothman Property contains an ultramafic sill comprised mainly of dunite (see Figure 2) that is estimated to be up to 200-300 metres thick, 2.2 km long and open at depth. An unclassified historical resource estimate reported as 189,753 tons grading 1.24% nickel (the Sothman West Zone) 3 is centred 500 metres west of the sill (the 2.2 km dunite sill is largely untested).

The Sothman West Zone occurs at the north ultramafic contact within a footwall embayment approximately 300 metres wide and open at depth. The best historical intersection was hole DG50-S04 with 1.58% nickel over 12.2 metres (8.6 metres estimated true width) from 41.2 metres downhole including 4.6 metres (3.2 metres estimated true width) of 2.31% nickel and 0.19% copper. A sample of historical drill results is shown in Table 1a and 1b . Two drillholes intersected a deeper pod of similar sulphide mineralization (3.4 metres of 1.32% nickel from 398 metres in SM71-1 and 5.5 metres of 0.49% nickel from 353.2 metres in SM71-2) outside of the resource during the last drill program in 1971.

The Sothman Main Zone has seen very limited exploration but is known to contain dunite and peridotite and is similar in size to the East Zone at Crawford. For example, drillhole SM67-B25, SM67-B26 and SM67-B27 all intersected peridotite below overburden intersecting 54.56 metres of peridotite from 36.6 metres, 112.47 metres of peridotite from 7.6 metres, and 109.43 metres of peridotite from 12.19 metres respectively. All three holes ended in peridotite. Drillhole SM67-B28 was collared in peridotite (intersecting 46.02 metres of ultramafics from 15.24 metres) and crossed the south contact into volcanics at 61.26 metres, completing the only geologic section across the Sothman Main Zone.

Drillhole DG53-S41A is the only hole drilled in the eastern area of the Sothman Main Zone and intersected 60.1 metres of peridotite from 23.8 metres downhole, ending in peridotite. The south contact of the Sothman Main Zone has been intersected in three drillholes (DG51-S09, DG51-S12 and SM67-B28) with all holes starting in peridotite and ending in volcanics.

Table 1a – Historical Drilling – Sothman West Zone – Significant Intersections

Hole ID

From (m)

To (m)

Length (m)

Estimated True
Width (m)

Ni %

Cu %

SM56-K11

93.2

102.4

9.2

4.6

1.58

0.17

including

93.2

97.5

4.3

2.2

2.58

0.34

SM67-B06

28.7

40.5

11.8

8.4

1.57

0.11

including

28.7

33.8

5.1

3.6

2.28

0.16

DG50-S04

41.2

53.3

12.2

8.6

1.58

0.12

including

41.2

45.7

4.6

3.2

2.31

0.19

DG51-S20

89.9

95.8

5.9

4.0

1.56

0.13

DG50-S05

19.8

21.0

1.2

0.9

7.51

0.62

SM71-1

398.1

409.0

11.0

4.1

0.66

0.04

___________________________

3 See Statement Regarding Historical Resource Estimates on page 27 of this press release.

Table 1a – Historical Drilling – Sothman West Zone – Significant Intersections (continued)

Hole ID

From (m)

To (m)

Length (m)

Estimated True
Width (m)

Ni %

Cu %

including

398.1

401.4

3.4

1.2

1.32

0.05

SM71-2

353.3

358.8

5.5

2.5

0.49

0.03

Table 1b – Historical Drilling – Sothman Property – Selected Lithologies

Hole ID

From (m)

To (m)*

Rock Type

DG-50-S04

32.4

107.9

Ultramafics - Peridotite

DG-50-S05

22.9

82.0

Ultramafics - Peridotite

DG-51-S09

7.3

217.0

Ultramafics - Peridotite

DG-51-S12

7.0

111.4

Ultramafics - Peridotite

DG-51-S12

111.4

114.1

Ultramafics - Gabbro

DG-51-S12

114.1

118.3

Ultramafics - Peridotite

DG-51-S12

118.3

142.8

Ultramafics - Gabbro

DG-51-S20

19.8

96.9

Ultramafics - Peridotite

DG-53-S41A

23.8

83.8

Ultramafics - Peridotite

SM-56-K11

85.7

148.4

Ultramafics - Peridotite

SM-67-B06

25.5

101.8

Ultramafics - Peridotite

SM-67-B25

36.6

91.1

Ultramafics - Peridotite

SM-67-B26

7.6

120.1

Ultramafics - Peridotite

SM-67-B27

12.2

121.6

Ultramafics - Peridotite

SM-67-B28

15.2

47.7

Ultramafics - Peridotite

SM-71-01

394.0

426.7

Ultramafics - Peridotite

SM-71-02

351.1

366.7

Ultramafics - Peridotite

* Denotes ended in mineralization

Figure 1 – Sothman Property – Historical Drillholes Over Total Magnetic Intensity ("TMI").

Deloro

Deloro is a property of approximately 1,800 ha located 10 km southeast of Timmins . It contains an ultramafic unit 1.4 km in length and up to 450 metres wide, striking south-southeast identified by the high magnetic intensity anomaly and historical drilling (see Figure 2). Six holes (FY-02-02, FY-02-06, FY-02-10, FY-02-11, FY-02-12, FY-02-13) were drilled inside and on the edge of the anomaly. Five of six holes intersected serpentinized dunite/peridotite with a core length of 24.2 metres in hole FY-02-10 up to 138.4 metres in hole FY-02-13, with four of five holes ending in serpentinized dunite/peridotite.

All five holes noted presence of magnetite (up to 20-25% magnetite in interval 39.4-89.5 metres from hole FY-02-02) and disseminated sulphides. Only specific non-consecutive intervals were assayed. Two of the four holes had nickel mineralization exceeding 0.40% nickel:  FY02-02 with 0.42% nickel over a core length of 4.2 metres, with up to 0.73 g/t Pd and 0.23 g/t Pt over 1.2 metres, and FY-02-10 with 0.48% nickel, 0.28 g/t Pd, and 0.14 g/t Pt over 2.8 metres. See Table 2a and 2b below.

Figure 2 – Deloro Property – Historical Drillholes Over TMI

Table 2a – Historical Drilling – Deloro Property – Significant Intersections*

Hole ID

From (m)

To (m)

Length (m)

Ni %

Cu %

Pd g/t

Pt g/t

FY-02-02

241.0

314.5

73.5

0.28

0.03

0.06

0.03

Including

299.0

314.5

15.5

0.38

0.06

0.15

0.07

FY-02-02

324.2

345.0

20.8

0.24

0.03

0.03

0.01

including

342.8

343.1

0.4

0.74

0.23

0.16

0.17

FY-02-10

54.7

59.7

5.0

0.27

0.03

0.01

0.00

FY-02-10

95.8

98.6

2.8

0.48

0.03

0.28

0.14

FY-02-13

122.8

152.9

30.1

0.25

0.01

0.02

0.01

FY-02-13

177.5

200.5

23.0

0.24

0.00

0.00

FY-02-13

298.0

318.0

20.0

0.26

0.00

0.00

* Insufficient drilling completed to determine dip and true width of orebody

Table 2b – Historical Drilling – Deloro Property – Selected Lithologies

Hole ID

From (m)

To (m)

Length (m)

Rock Type

FY-02-01

4.0

11.0

7.0

Peridotite

FY-02-01

11.0

14.1

3.1

Serpentinite

FY-02-01

14.8

18.2

3.4

Serpentinite

FY-02-01

18.2

29.9

11.7

Peridotite

FY-02-01

29.9

31.3

1.4

Peridotite

FY-02-01

31.3

34.8

3.5

Peridotite

FY-02-01

36.5

98.5

62.0

Peridotite

FY-02-01

98.5

102.0

3.5

Serpentinite

FY-02-02

5.8

21.3

15.5

Peridotite/Dunite

FY-02-02

23.1

33.7

10.6

Peridotite/Dunite

FY-02-02

33.7

34.7

1.0

Serpentinite

FY-02-02

39.4

89.5

50.1

Peridotite/Dunite

FY-02-02

89.5

90.4

0.8

Pyroxenite

FY-02-02

92.1

117.1

25.0

Peridotite/Dunite

FY-02-02

117.1

120.7

3.6

Serpentinite

FY-02-02

132.5

134.4

1.9

Peridotite

FY-02-02

135.4

136.8

1.4

Pyroxenite

FY-02-02

137.1

138.6

1.5

Serpentinite

FY-02-02

138.6

149.8

11.2

Peridotite/Dunite

FY-02-02

151.7

206.1

54.4

Peridotite/Dunite

FY-02-02

210.6

217.9

7.2

Serpentinite

FY-02-02

219.3

314.7

95.4

Peridotite

FY-02-02

316.7

319.0

2.3

Pyroxenite

FY-02-02

319.0

319.7

0.7

Peridotite

FY-02-02

319.7

321.2

1.5

Peridotite/Dunite

FY-02-02

321.2

324.2

3.0

Peridotite

FY-02-02

324.2

324.8

0.6

Peridotite

FY-02-02

324.8

325.8

1.0

Peridotite

FY-02-02

325.8

332.2

6.4

Peridotite

FY-02-02

332.2

333.5

1.3

Serpentinite

FY-02-02

333.5

339.7

6.2

Peridotite

FY-02-02

339.7

365.7

26.0

Serpentinite

FY-02-02

373.5

381.1

7.7

Serpentinite

FY-02-06

25.0

110.3

85.3

Serpentinite

FY-02-06

110.9

208.9

98.0

Serpentinite

Table 2b – Historical Drilling – Deloro Property – Selected Lithologies (continued)

Hole ID

From (m)

To (m)

Length (m)

Rock Type

FY-02-06

211.2

301.0

89.8

Serpentinite

FY-02-10

31.7

50.0

18.3

Pyroxenite

FY-02-10

54.7

59.7

5.0

Pyroxenite

FY-02-10

69.9

73.8

3.8

Peridotite

FY-02-10

75.5

97.6

22.1

Pyroxenite/Peridotite

FY-02-10

97.6

113.5

15.9

Peridotite/Dunite

FY-02-10

113.5

121.9

8.4

Peridotite

FY-02-10

121.9

123.5

1.7

Serpentinite

FY-02-10

123.9

124.6

0.7

Serpentinite

FY-02-10

124.8

130.7

5.9

Peridotite

FY-02-10

130.7

135.0

4.3

Peridotite

FY-02-12

52.4

58.6

6.2

Pyroxenite

FY-02-12

58.6

64.7

6.1

Serpentinite

FY-02-12

75.3

79.1

3.8

Serpentinite

FY-02-12

80.0

80.3

0.3

Serpentinite

FY-02-12

80.3

82.3

2.0

Serpentinite

FY-02-12

85.6

86.2

0.6

Serpentinite

FY-02-12

86.2

97.3

11.1

Peridotite

FY-02-12

97.3

113.5

16.2

Pyroxenite

FY-02-12

113.5

118.2

4.7

Peridotite

FY-02-12

119.4

122.0

2.5

Peridotite

FY-02-12

122.0

133.3

11.3

Peridotite/Dunite

FY-02-12

133.3

146.4

13.2

Dunite

FY-02-12

146.6

272.0

125.4

Dunite

FY-02-13

114.3

156.0

41.6

Peridotite

FY-02-13

166.1

168.1

2.0

Peridotite

FY-02-13

168.1

171.9

3.8

Peridotite

FY-02-13

171.9

177.5

5.6

Dunite

FY-02-13

177.5

179.6

2.1

Peridotite

FY-02-13

179.6

318.0

138.4

Dunite

Mann

Mann is located 25 km east of Crawford and totals 7,800 ha. The ultramafic is estimated to be a combined 21 km in length with variable thickness and having at least three main dunitic cores like that at Crawford (Mann Central, Mann Northwest, and Mann Southeast). The Company has acquired the right to earn an 80% interest in the Mann Property from Noble by an initial payment of $100,000 in cash and 150,000 shares and paying a further $100,000 per year over the four-year Option Period (for a total cash payment of $400,000 ) and issuing a further 250,000 common shares, and incurring total exploration expenditures of $1.7 million , over the Option Period. Noble will retain a 2.00% Net Smelter Return ("NSR") with a 1.00% buy-back to Canada Nickel for $1.0 million plus 50% of the buy-back provisions that total $4.5 million ( $2.25 million to CNC).

Mann Central

The Mann Central Property area covers a single 4 km long by up to 1 km wide ultramafic intrusion (see Figure 3) that is evident in TMI geophysical surveys. Historical drilling has already delineated ultramafic mineralization over a strike length of 2,700 metres and 690 metres wide. Only one historical hole had assays – Falconbridge Ltd. intersected 79 metres (MAN43-03) of ultramafic which was intermittently sampled - with the highest reported assay of 0.29% nickel over ~1 metre (See Table 3a below).  Historical drilling began in 1951 with seven of eight holes intersecting serpentinized peridotite containing magnetite. The longest intersection occurred in hole M-1, with 212 metres of well serpentinized peridotite along its entire core length. A 1976 drilling campaign reported wide intercepts of serpentinized ultramafic intrusive with visible sulphides and pervasive magnetite. Hole MA5-2-76 was the longest at 114 metres of serpentinized ultramafics along its entire core length (see Table 3a below).

Table 3a – Historical Drilling – Mann Central Property – Selected Lithologies

Hole ID

From (m)

To (m)

Length (m)

Rock Type

INCO-1

5.2

162.5

157.3

Peridotite

M-1

1.5

213.7

212.1

Peridotite

M-2

7.3

214.9

207.6

Peridotite

M-3

7.6

14.9

7.3

Peridotite

M-3

18.0

96.3

78.3

Peridotite

M-3

96.3

141.7

45.4

Pyroxenite

M-3

141.7

155.1

13.4

Peridotite

M-3

165.8

172.8

7.0

Pyroxenite

M-4

11.3

50.0

38.7

Dunite

M-4

50.0

54.6

4.6

Pyroxenite

M-4

54.6

88.4

33.8

Dunite

M-4

88.4

191.4

103.0

Peridotite

M-4

191.4

196.0

4.6

Pyroxenite

M-5

10.1

41.1

31.1

Pyroxenite

M-5

41.1

153.3

112.2

Peridotite

M-5

161.5

172.5

11.0

Pyroxenite

M-6

7.9

114.9

107.0

Peridotite

M-6

123.1

128.0

4.9

Pyroxenite

M-7

11.3

107.3

96.0

Peridotite

M-7

113.4

127.1

13.7

Peridotite

M-7

129.2

172.8

43.6

Peridotite

1A

0.9

7.0

6.1

Peridotite

1A

51.5

54.6

3.1

Peridotite

2A

2.4

8.7

6.3

Peridotite

2A

22.0

52.1

30.2

Peridotite

2A

83.8

111.3

27.4

Peridotite

3A

1.2

57.3

56.1

Peridotite

Table 3a – Historical Drilling – Mann Central Property – Selected Lithologies (continued)

Hole ID

From (m)

To (m)

Length (m)

Rock Type

3A

61.3

80.5

19.2

Peridotite

4A

0.6

10.4

9.8

Peridotite

4A

11.0

37.5

26.5

Peridotite

MA4-2-76

84.4

90.8

6.5

Gabbro

MA4-2-76

90.8

121.9

31.1

Pyroxenite

MA4-2-76

121.9

123.1

1.2

Peridotite

MA5-1-76

102.4

108.8

6.4

Gabbro

MA5-1-76

108.8

138.1

29.3

Peridotite

MA5-2-76

8.7

123.1

114.4

Ultramafic

MN87-3

32.3

200.0

167.7

Ultramafic

MAN43-01

9.0

188.0

179.0

Ultramafic

MAN43-03

78.6

158.0

79.4

Ultramafic

Table 3b – Historical Drilling – Mann Central Property – Significant Intersections

Hole ID

From (m)

To (m)

Length (m)

Ni %

MAN43-03

89.1

90.3

1.2

0.29

MAN43-03

95.1

95.5

0.4

0.15

MAN43-03

107.2

107.6

0.4

0.16

MAN43-03

116.0

116.5

0.5

0.19

MAN43-03

122.0

122.4

0.4

0.21

MAN43-03

131.0

131.6

0.6

0.23

MAN43-03

142.7

143.0

0.3

0.21

MAN43-03

149.0

149.5

0.5

0.22

Figure 3 – Mann Central Property – Historical Drillholes Over TMI.

Mann Northwest

The Mann Northwest Property covers an ultramafic intrusion having dimensions of 3.5 km long by 600-800 metres wide (see Figure 4). The intrusion is described as mostly peridotite, commonly serpentinized, with overlying leuco-gabbro and pyroxenite.

First Point Minerals Corp. conducted a three-hole drill program (468 metres) in 2002 targeting PGMs in pyroxenites that overlie the ultramafic units. While the first hole (FHR-01-01) targeted the contact between the volcanics and the ultramafic rocks, the second hole (FHR02-02) intersected serpentinized peridotite containing magnetite and some sulphide stringers in fractures. Nickel assays were taken at selected intervals and ranged from a low of 0.10% nickel to a high of 0.31% nickel with average values >0.20% nickel (see table 4a).

Drilling conducted by Tres-Or Resources Ltd., did not report nickel assays but did intersect wide sections of serpentinized peridotite with magnetite and/or sulphide minerals (e.g., MAN-87-1) as observed in 22 drill holes (see Table 4b ), as well as elevated PGM values (e.g., 0.57-0.59 g/t PGM) from several channel samples. Geological descriptions and geochemistry from these programs resemble what is observed at Canada Nickel's Crawford property.

Table 4a – Historical Drilling – Mann Northwest Property – Significant Intersections

Hole ID

From (m)

To (m)

Length (m)

Ni %

S %

Cr %

Co %

Pd (g/t)

Pt (g/t)

FHR01-02

25.3

29.0

3.7

0.22

0.06

0.20

0.01

0.001

-

FHR01-02

73.0

76.0

3.0

0.21

0.07

0.11

0.01

-

-

FHR01-02

86.0

89.0

3.0

0.23

0.06

0.08

0.01

0.002

-

FHR01-02

89.0

92.3

3.3

0.24

0.05

0.07

0.01

0.002

-

FHR01-02

92.6

95.0

2.4

0.23

0.05

0.06

0.01

0.003

-

FHR01-02

98.0

101.0

3.0

0.24

0.05

0.06

0.01

0.002

0.007

FHR01-02

101.0

104.0

3.0

0.23

0.05

0.08

0.01

0.001

-

FHR01-02

131.0

134.0

3.0

0.25

0.04

0.08

0.01

0.002

0.007

FHR02-02

33.5

35.0

1.5

0.22

0.07

0.23

0.01

0.063

0.048

FHR02-02

75.4

76.4

1.0

0.21

0.10

0.14

0.01

0.003

-

FHR02-02

113.0

114.3

1.3

0.31

0.17

0.10

0.02

0.021

0.013

FHR02-02

117.0

118.6

1.6

0.21

0.09

0.08

0.01

0.002

-

FHR02-02

121.7

122.3

0.6

0.29

0.12

0.15

0.01

0.038

0.017

FHR02-02

134.7

135.4

0.7

0.28

0.19

0.19

0.01

0.044

0.021

FHR02-02

158.0

161.0

3.0

0.27

0.14

0.07

0.01

0.031

0.009

FHR03-02

27.5

32.0

4.5

0.17

0.10

0.08

0.01

0.004

0.014

FHR03-02

133.0

137.0

4.0

0.15

0.18

0.18

0.01

0.005

-

Table 4b   Historical Drilling – Mann Northwest Property – Selected Lithologies

Hole ID

From (m)

To (m)

Length (m)

Rock Type

FHR01-02

25.3

63.5

38.2

Peridotite

FHR01-02

63.5

87.5

24.0

Peridotite

FHR01-02

87.5

92.3

4.8

Peridotite

FHR01-02

92.6

111.8

19.2

Peridotite

Table 4b   Historical Drilling – Mann Northwest Property – Selected Lithologies (continued)

Hole ID

From (m)

To (m)

Length (m)

Rock Type

FHR01-02

116.9

119.1

2.2

Peridotite

FHR01-02

119.1

137.0

17.9

Peridotite

FHR02-02

7.0

33.5

26.5

Peridotite

FHR02-02

33.7

43.5

9.8

Peridotite

FHR02-02

43.5

150.0

106.5

Peridotite

FHR02-02

150.8

161.0

10.2

Peridotite

FHR03-02

15.0

123.8

108.8

Peridotite

MAN-73-6

12.2

112.3

100.1

Peridotite

MAN-73-6

115.5

119.9

4.4

Peridotite

MAN-73-6

119.9

128.0

8.1

Pyroxenite

MAN-73-6

152.1

167.6

15.5

Peridotite

MAN-00-01

5.2

100.3

95.1

Peridotite

MAN-00-01

100.3

104.0

3.8

Gabbro

MAN-00-01

104.0

106.5

2.4

Peridotite

MAN-00-01

106.5

128.8

22.3

Gabbro

MAN-00-01

128.8

200.3

71.5

Peridotite

MAN-01

5.2

100.3

95.1

Peridotite

MAN-01

100.3

104.0

3.8

Gabbro

MAN-01

104.0

106.5

2.4

Peridotite

MAN-01

106.5

128.8

22.3

Gabbro

MAN-01

128.8

200.3

71.5

Peridotite

M-01-1

-

192.0

192.0

Peridotite

M-01-2

-

212.3

212.3

Gabbro

M-01-2

212.3

237.1

24.8

Carbonatized Zone

M-01-2

237.1

251.0

13.9

Peridotite

M-01-3

-

150.0

150.0

Peridotite

M-01-4

-

102.0

102.0

Peridotite

M-01-5

-

40.2

40.2

Peridotite

M-01-5

40.2

59.8

19.6

Gabbro

M-01-5

59.8

73.6

13.8

Pyroxenite

M-01-5

73.6

116.9

43.3

Gabbro

M-01-5

116.9

150.0

33.1

Peridotite

M-01-6

-

51.6

51.6

Peridotite

M-01-6

51.6

70.2

18.6

Gabbro

M-01-6

70.2

81.5

11.3

Pyroxenite

M-01-6

81.5

107.9

26.4

Gabbro

M-01-6

107.9

147.5

39.6

Peridotite

Table 4b   Historical Drilling – Mann Northwest Property – Selected Lithologies (continued)

Hole ID

From (m)

To (m)

Length (m)

Rock Type

M-01-6

147.5

156.0

8.5

Gabbro

MAN-87-1

-

9.7

9.7

Gabbro

MAN-87-1

9.7

41.2

31.4

Peridotite

MAN-87-2

-

11.6

11.6

Gabbro

MAN-87-2

11.6

35.4

23.8

Peridotite

MAN-88-1

-

61.6

61.7

Peridotite

MAN-88-1

61.6

64.0

2.4

Gabbro

MAN-88-2

-

61.0

61.0

Peridotite

MAN-88-3

-

60.7

60.7

Peridotite

MAN-91-1

1.8

79.6

77.7

Gabbro

MAN-91-1

79.6

138.9

59.4

Peridotite

MAN-91-1

138.9

155.5

16.6

Gabbro

MAN-91-1

155.5

166.2

10.7

Gabbro

MAN-91-1

166.2

181.9

15.7

Pyroxenite

MAN-91-1

181.9

246.0

64.1

Peridotite

MAN-96-1

1.5

42.1

40.5

Gabbro

MAN-96-1

42.1

107.3

65.2

Peridotite

MAN-96-1

107.3

115.2

7.9

Pyroxenite

MAN-96-1

115.2

227.1

111.9

Peridotite

MAN-96-1

227.1

248.7

21.6

Pyroxenite

MAN-96-1

248.7

279.8

31.2

Peridotite

MAN52-02

96.6

179.0

82.4

Ultramafic

MAN07-01

6.4

37.8

31.4

Peridotite

MAN07-01

37.8

47.7

9.9

Gabbro

MAN07-01

47.7

53.5

5.8

Pyroxenite

MAN07-01

53.5

76.7

23.2

Gabbro

MAN07-01

76.7

102.0

25.3

Peridotite

MAN07-02

14.2

30.0

15.8

Pyroxenite

MAN07-02

30.0

110.0

80.1

Gabbro

MAN07-02

110.0

129.0

19.0

Peridotite

MAN07-03

40.5

41.9

1.4

Gabbro

MAN07-03

41.9

61.7

19.8

Peridotite

MAN07-03

61.7

82.0

20.3

Pyroxenite

MAN07-03

82.0

107.3

25.3

Peridotite

MAN07-04

9.0

21.5

12.5

Peridotite

MAN07-04

21.5

22.3

0.8

Pyroxenite

MAN07-04

22.3

76.8

54.5

Gabbro

Table 4b   Historical Drilling – Mann Northwest Property – Selected Lithologies (continued)

Hole ID

From (m)

To (m)

Length (m)

Rock Type

MAN07-04

76.8

141.0

64.2

Peridotite

MAN08-05

14.5

26.9

12.4

Pyroxenite

MAN08-05

26.9

60.0

33.1

Gabbro

MAN08-06

13.0

25.8

12.8

Peridotite

MAN08-06

25.8

38.3

12.5

Pyroxenite

MAN08-06

38.3

60.0

21.7

Gabbro

MAN08-07

16.0

33.9

17.9

Peridotite

MAN08-07

33.9

46.3

12.4

Pyroxenite

MAN08-07

46.3

54.0

7.7

Gabbro

MAN08-07

54.0

57.5

3.5

Pyroxenite

MAN08-07

57.5

75.0

17.5

Gabbro

Figure 4 – Mann Northwest Property – Historical Drillholes Over TMI.

Mann Southeast

Mann Southeast is characterized by an arcuate-shaped ultramafic intrusion located in southeast Mann township with approximate dimensions of 6.2 km long and up to 800 metres wide (see Figure 5). Eight widely spaced holes drilled into the anomaly outlined 5 km of serpentinized dunite / peridotite across the anomaly (see Table 5c below).

In 1996, Falconbridge Ltd. drilled 111 metres of strongly serpentinized peridotite (MAN-35-01) with select assays grading: 0.31-0.33% nickel over 3 metre sampled intervals. See Table 5a.

A drill program conducted in 1973 around the southeast Mann ultramafic intersected wide intervals of serpentinized peridotite in five holes, with assays ranging up to 0.29% nickel (see Table 5b below). The southernmost and largest section of ultramafic – 1.2 km by 800 metres – remains untested with no historical drilling reported.

Table 5a – Historical Drilling – Mann Southeast Property – Significant Intersections

Hole ID

From (m)

To (m)

Ni %

MAN-35-01

47.0

50.0

0.33

MAN-35-01

71.0

74.0

0.32

MAN-35-01

101.0

104.0

0.31

Table 5b – Historical Drilling – Mann Southeast Property – Significant Intersections

Hole ID

From (m)

To (m)

Ni %

73-1

41.1

42.7

0.25

73-1

73.2

74.8

0.23

73-1

86.7

88.4

0.22

73-1

103.6

105.2

0.24

73-1

120.4

121.9

0.23

73-1

137.2

138.7

0.22

73-1

153.9

155.4

0.25

73-3

41.1

42.7

0.25

73-3

56.4

57.9

0.28

73-3

73.2

74.7

0.18

73-3

88.4

89.9

0.16

73-3

103.6

105.2

0.20

73-3

120.4

121.9

0.25

73-3

136.2

137.8

0.29

73-3

150.9

152.1

0.29

73-4

69.2

70.7

0.28

73-4

86.0

87.5

0.23

73-4

103.6

105.2

0.23

73-4

120.4

121.9

0.23

73-4

137.5

139.0

0.29

73-6

61.6

63.1

0.27

73-6

76.2

77.7

0.23

73-6

94.5

96.0

0.23

73-6

99.1

100.6

0.22

*Hole 73-2 had assays all below 0.15%

Table 5c – Historical Drilling – Mann Southeast – Selected Lithologies

Hole ID

From (m)

To (m)

Length (m)

Rock Type

73-1

38.4

159.7

121.3

Peridotite

73-2

39.9

166.7

126.8

Peridotite

73-3

36.6

152.1

115.5

Peridotite

73-4

55.2

64.9

9.8

Peridotite

73-4

64.9

144.5

79.6

Peridotite

73-6

12.8

48.5

35.7

Peridotite

73-6

48.5

112.5

64.0

Peridotite

MAN-35-01

38.0

149.0

111.0

Dunite

MAN-45-01

99.0

155.0

56.0

Peridotite

MAN-45-01

195.0

245.0

50.0

Peridotite

MAN-45-02

95.0

211.0

116.0

Peridotite

Figure 5 – Mann Southeast Property – Historical Drillholes Over TMI.

Reaume

Reaume is a property approximately 5,800 ha located 54 km north-northeast of Timmins and contains a large ultramafic intrusion having an approximate outline of 3 km (east-west) by 1.8 km (north-south) as defined by its magnetic footprint and historical drilling (see Figure 6). Inco holes 28482 and 28483 returned peridotite/dunite mineralization across the entire core length. Hole 28483 intersected from surface approximately 264 metres of serpentinized peridotite/dunite containing magnetite with some disseminated sulphides. Hole 28482 intersected 108 metres of serpentinized peridotite/dunite with up to 20% magnetite and disseminated sulphides. Both drillholes ended in peridotite/dunite.

Seven drillholes by Falconbridge (1995) intersected thick sections of peridotite and dunite (up to 168 metres of dunite in Hole REA-45-07). These historic holes delineated a peridotite/dunite unit with an east-west extent of approximately 1,200 metres and a north-south extent of 900 metres.

Four of the Falconbridge holes ended in peridotite/dunite. Six of seven holes reported the widespread presence of magnetite as well as disseminated sulphides. No assays were reported; however, the TMI exceeds the peak levels at Crawford Main Zone near the centre of the intrusion and is strongly anomalous across the ultramafic.

Figure 6 – Reaume Property – Historical Drillholes Over TMI.

Table 6 – Historical Drilling   – Reaume Property – Selected Lithologies

Hole ID

From (m)

To (m)

Length (m)

Rock Type

28483

37.0

89.0

52.0

Peridotite

28483

89.0

147.0

58.0

Peridotite

28483

147.0

301.0

154.0

Peridotite/Dunite

28482

140.0

158.0

18.0

Peridotite/Dunite

28482

158.0

248.0

90.0

Peridotite

REA-45-03

21.0

89.0

68.0

Peridotite

REA-45-03

89.0

117.0

28.0

Pyroxenite

REA-45-03

117.0

164.0

47.0

Peridotite

REA-45-03

164.0

198.0

34.0

Pyroxenite

REA-45-03

198.0

278.0

80.0

Peridotite

REA-45-03

294.0

335.0

41.0

Pyroxenite

REA-45-04

29.0

99.0

70.0

Dunite

Table 6 – Historical Drilling   – Reaume Property – Selected Lithologies (continued)

Hole ID

From (m)

To (m)

Length (m)

Rock Type

REA-45-04

101.1

156.5

55.4

Dunite

REA-45-04

160.3

198.5

38.3

Peridotite

REA-45-04

198.5

344.9

146.4

Dunite

REA-45-05

30.0

123.8

93.8

Dunite

REA-45-05

123.8

223.1

99.3

Peridotite

REA-45-05

238.6

244.4

5.8

Pyroxenite

REA-45-05

244.4

293.0

48.6

Peridotite

REA-45-05

293.0

300.6

7.6

Dunite

REA-45-05

300.6

308.0

7.4

Peridotite

REA-45-06

21.7

320.0

298.3

Peridotite

REA-45-07

45.2

131.1

85.9

Peridotite

REA-45-07

131.1

299.0

167.9

Dunite

REA-45-08

33.0

54.5

21.5

Dunite

REA-45-08

54.5

64.4

9.9

Pyroxenite

REA-46-01

15.0

28.4

13.4

Dunite

REA-46-01

28.4

136.8

108.4

Dunite

REA-46-01

136.8

259.5

122.7

Peridotite

REA-46-01

259.5

310.0

50.5

Pyroxenite

REA-46-01

310.0

337.9

27.9

Peridotite

REA-46-01

350.3

388.5

38.2

Pyroxenite

REA-46-01

388.5

419.4

30.9

Peridotite

Midlothian

Midlothian covers an area of 3,257 ha and is located 70 km south-southeast of Timmins . The ultramafic body is defined by a magnetic anomaly 2.7 km long and up to 700 metres wide (see Figure 7 below).

A total of 30 holes were drilled over the last 50 years by various operators with 23 holes intersecting serpentinized peridotite/dunite and 17 ending while still in the ultramafics.  Six drillholes, each intersected over 100 metres of continuous, uninterrupted dunite/ultramafic, with LM08-01 intersecting 263.8 metres to the end of hole. (See Table 7a).

Seven holes had nickel assays, with the best interval in hole LM08-01 which yielded 0.24% nickel across core length of 345 metres with the final 42 metres grading 0.30% nickel (See Table 7b ). Nickel sampling was not continuous down most drillholes.

The above drillholes outline serpentinized dunite/peridotite over a strike distance of 3.1 km long by 670 metres wide.

Figure 7 – Midlothian Property – Historical drillholes over TMI.

Table 7a – Historical Drilling   – Midlothian Property – Selected Lithologies

Hole ID

From (m)

To (m)

Length (m)

Rock Type

LM08-01

51.6

60.2

8.6

Peridotite/dunite

LM08-01

60.2

135.8

75.7

Serpentinite

LM08-01

136.4

400.2

263.8

Peridotite/dunite

LL1

7.0

165.8

158.8

Dunite

LL2

8.8

163.1

154.3

Dunite

LL3

9.8

160.0

150.3

Dunite

A-121

2.7

48.8

46.0

Dunite

A-126

7.6

37.2

29.6

Dunite

A-126

41.8

92.0

50.3

Dunite

A-126

92.7

152.7

60.1

Dunite

501

133.2

196.3

63.1

Dunite

506

206.0

301.8

95.7

Dunite

507

106.1

280.7

174.7

Dunite

A-131

0.9

13.1

12.2

Dunite

A-131

36.6

39.9

3.4

Dunite

A-131

102.7

106.7

4.0

Dunite

A-131

110.9

113.1

2.1

Dunite

503

3.7

20.4

16.8

Dunite

504

6.7

114.0

107.3

Dunite

Table 7a – Historical Drilling   – Midlothian Property – Selected Lithologies (continued)

Hole ID

From (m)

To (m)

Length (m)

Rock Type

MD-17-001

20.5

20.5

0.0

Serpentinite

MD-17-001

20.5

26.1

5.6

Serpentinite

MD-17-001

26.1

29.0

2.9

Dunite

MD-17-002

20.0

29.0

9.0

Serpentinite

MD-17-003

0.0

31.1

31.1

Serpentinite

MD-17-003

0.0

35.0

35.0

Dunite

MD-17-004

18.4

19.9

1.5

Dunite

MD-17-005

41.0

53.0

12.0

Dunite

MD-17-006

32.0

38.0

6.0

Dunite

MD-17-007

28.8

35.0

6.2

Serpentinite

MD-17-007

35.0

67.0

32.0

Dunite

MD-17-008

29.3

38.0

8.8

Serpentinite

514

45.9

52.1

6.2

Dunite

514

52.1

70.7

18.6

Dunite

514

70.7

92.7

21.9

Dunite

514

92.7

107.3

14.6

Dunite

514

117.7

149.4

31.7

Dunite

515

32.6

33.8

1.2

Dunite

515

33.8

78.3

44.5

Peridotite/dunite

515

78.3

86.3

7.9

Dunite

515

86.3

125.6

39.3

Peridotite/dunite

515

125.6

143.3

17.7

Dunite

516

48.5

84.7

36.3

Peridotite/dunite

516

92.0

105.2

13.1

Dunite

516

107.9

119.8

11.9

Peridotite/dunite

516

119.8

137.2

17.4

Dunite

Table 7b – Historical Drilling – Midlothian Property – Significant Intersections

Hole ID

From (m)

To (m)

Length (m)

Ni %

LM08-01

52.0

397.0

345.0

0.24

including

352.0

397.0

45.0

0.30

Reid

The Reid Property is located 16 km southwest of Crawford and covers an area of 3,800 ha. The property contains a series of folded ultramafic bodies that measure 3.3 km north-south by 2.1 km east-west based on the TMI. See Figure 8.

Only four holes were ever drilled inside or near the edge of the ultramafic (from 1966 to 1972) by three different companies. All four holes collared and ended in ultramafic rocks with the holes ending at depths of 59.7-171.0 metres with intervals of ultramafics ranging from 44.5-123.7 metres. While none of the holes were assayed, all four holes intersected peridotite with up to 5-10% disseminated magnetite noted in each hole (see Table 8 below).

Table 8 – Historical Drilling – Reid Property – Selected Lithologies

Hole ID

From (m)

To (m)

Rock Type

R-22

29.0

106.7

Serpentinized gabbro to peridotite

R-22

125.0

171.0

Serpentinized peridotite

R-18

54.6

96.9

Peridotite

T67-1

20.7

128.3

Serpentinized peridotite

T67-2

15.2

59.7

Serpentinized peridotite

Figure 8 – Reid Property – Historical Drillholes Over TMI.

Adam McCool

Adam McCool was staked directly by Canada Nickel and covers 2,832 ha. The property is located 92 km east of Timmins . The main intrusion was identified by its anomalous TMI and is estimated to have dimensions 4.6 km long by up to 800 metres wide (see Figure 9).

Mid-North Engineering Ltd. drilled three holes in McCool Township in 1963, intersecting serpentinized dunite in all three holes at shallow depths (to 495 ft or 151 m ). See Table 9. No assays were provided.

Table 9 – Historical Drilling – Adam McCool Property – Selected Lithologies

Hole ID

From (m)

To (m)

Length (m)

Rock Type

1-63

33.5

121.9

88.1

Serpentinized Dunite

1-62

38.1

150.9

112.8

Serpentinized Dunite

1-63

3.0

33.8

30.8

Serpentinized Dunite

1586-1

48.6

139.7

91.1

Peridotite

1586-1

139.7

153.3

13.6

Gabbro

D-1

29.3

279.5

250.2

Serpentinite

Figure 9 – Adam McCool Property – Historical Drillholes Over TMI.

Powell

The Powell Property is located 74 km southeast of Timmins and consists of several single cell mining claims totaling approximately 1,000 ha. The mining claims cover an ultramafic intrusion having dimensions of 1.4 km by 1.0 km showing a highly anomalous TMI. Two shallow holes drilled off the southeast edge of the anomaly were described as containing a pervasive mafic metavolcanic unit with high concentrations of magnetite and intervals of fracture-filling sulphide, which is more typical of serpentinized ultramafics. See Figure 10.

Figure 10 – Powell Property – Historical Drillholes Over TMI.

Moody

The Moody Property covers an area of 1,940 ha and was staked by Canada Nickel. The claims are located 72 km east of the Crawford Project and within 3 km from an all-weather mining road. Mistango River Mines Limited drilled a total of 34 diamond drillholes in the search for ultramafics. While the drilling results were reported by Utah Mines Ltd. in 1964, the location of the drillholes and drill results have not been provided on the Mining Lands Administration System ("MLAS"). The ultramafic is interpreted to have dimensions of 4.2 km long by up to 700 metres wide.

The Utah Mines Ltd. program consisted of reverse circulation drilling of several holes in 1984 (only seven were reported to MLAS) and core was not recovered. At the overburden-bedrock interface the rock was often described as being dark green and mafic.

Figure 11 – Moody Property – Historical Drillholes Over TMI.

Mortimer

The Mortimer Property includes two ultramafic intrusions that cover a total distance of 10 km, in an area staked by Canada Nickel totaling 2,732 ha. The main intrusion has dimensions of 1.8 km long, up to 400 metres wide and has never been intersected by drilling. The secondary intrusion, although longer in strike extent, does not show the same high intensity in the TMI but does have three locally high responses within the intrusion, none of which appears to have been drilled. The property is easily accessed by an all-weather logging road. See Figure 12.

Figure 12 – Mortimer Property – Historical Drillholes Over TMI.

Stimson

The Stimson Property covers 1,491 ha and encompasses a weakly magnetic ultramafic having a strike length of at least 2 km and with a higher amplitude TMI of 400 metres long. The ultramafic is interpreted to be a more distal extension of more strongly magnetic ultramafics found in Mortimer and Moody Townships, staked by Canada Nickel at the same time. See Figure 13.

Figure 13 – Stimson Property – Historical Drillholes Over TMI.

Purchase and Option Agreements

The Company has negotiated 18 agreements to acquire the properties described in the release. On signing, the Company will pay a combined $371,500 in cash and 2,044,000 shares. $25,000 of this cash has already been paid and 125,000 shares have already been issued.

Table 10 – Consolidated Summary of Cash & Share Consideration: 18 transactions


Cash

Shares

On Signing

$371,500

2,044,000

Year 1

$350,000

926,000

Year 2

$200,000

35,000

Year 3

$600,000

425,000

Year 4

$500,000

140,000

Total

$2,021,500

3,570,000

Sothman

Canada Nickel has entered into an agreement with Glencore Canada Corporation (Glencore) to acquire 50 mining leases that are in Sothman, Kemp and Mond Townships, 45 of which have associated Mining and Surface rights and five of which have Mining Rights only. Glencore will also hold a contingent right to receive a bonus payment in the amount of $10,000,000 (paid in cash or shares, at the Company's election) in the event the Company discloses a mineral resource pursuant to National Instrument 43-101 of 10,000 tonnes or more of nickel or nickel equivalent. Glencore will also retain offtake rights to purchase the ore, concentrate or other mineral products produced from the property at market pricing. Canada Nickel staked an additional nine mining claims adjacent to the mining leases.

Deloro

The Deloro Project consists of mining claims and patents acquired from two vendors in separate Purchase Agreements. In the first Purchase Agreement a 100% ownership was acquired to 35 mining claims and 30 mining patents. The mining claims are subject to a 2.00% NSR while the patents are subject to various NSRs, ranging from 2.00-5.50%. In the second Purchase Agreement, Canada Nickel acquired a 100% ownership in four contiguous mining patents. The vendor will retain a 3.00% NSR on any gold resource outlined.

Mann

The Mann Property was acquired from Noble Mineral Exploration ("Noble") in an Option Agreement with work commitments, cash payments, share issuances, NSRs, and buy-back provisions. The Company has acquired the right to earn an 80% interest in the Mann Property from Noble. Work commitments are $1.7 million over the Option Term with an initial $500,000 required in the first year. Noble will retain a 2.00% NSR (due to various vendors) with a 1.00% buy-back provision to Canada Nickel for $1.0 million plus 50% of the buy-back provisions that total $4.5 million ( $2.25 million to CNC). Once Canada Nickel earns its 80% interest it will form a joint-venture with Noble to continue exploring the Property on an 80%-20% basis. An acceleration provision exists to allow the Company to reach its 80% interest earlier than the Option Period.

Reaume

The Reaume Property was acquired through a combination of Purchase and Option Agreements. In one Purchase Agreement Canada Nickel acquired a 100% right to 65 contiguous mining claims with a 2.00% NSR to the vendor and a 1.00% buy-back provision. In a second Option Agreement Canada Nickel has the option to earn a 100% interest in 48 mining claims through work expenditures (2,100 metres of diamond drilling) over a 12-month period. In a third Purchase Agreement Canada Nickel acquired a 100% interest in a group of 201 in-fill claims (surrounding the ultramafic units) with the vendor retaining a 2.00% NSR with a buy-back of 1.00%. In a fourth Purchase Agreement Canada Nickel acquired a small group of claims which have a 2.00% NSR with a 1.00% buy-back.

Midlothian

The Midlothian Property was acquired under an Option Agreement with Canadian Gold Miner Corp. (70% interest) and Laurion Mineral Exploration Inc. (30% interest), collectively the vendors. Under the terms of the agreement, Canada Nickel can earn a 100% interest in the property through cash and share payments and a commitment to $500,000 of exploration expenditures within the first twelve months of the agreement. On or before the fourth anniversary, Canada Nickel will complete an exploration program having a cumulative value of $2.5 million (including the first-year expenditures of $0.5 million ). Cash and share payments in the first year are $50,000 and 100,000 respectively. In subsequent years payments are $100,000 and 35,000 (18 months), $200,000 and 70,000 (27 months), $300,000 and 105,000 (year 3) and $400,000 and 140,000 (year 4) for total cash payments of $1,050,000 and share issuances of 450,000. The vendors will retain an NSR of 4.00% for gold and 2.00% for nickel with a commercial production payment of $4.0 million . Canada Nickel will retain a 1.00% NSR buy-back right for aggregate payments of $2.5 million . The Option Agreement includes clauses for acceleration of the exploration program and payment in lieu of exploration expenditures.

Reid

The Reid Property was acquired through Purchase Agreements with several different vendors. The Company has committed to conduct a 2,500 m drill program and fly an airborne survey over the Property. The vendor retains a 2.00% NSR on the claims with certain buy-down provisions. In a second Purchase Agreement 14 single cell mining claims were acquired with a 2.00% NSR to the vendor and a 1.00% buy-back. In a third agreement Canada Nickel acquired a 100% interest in 18 mining claims with a 2.00% NSR to the vendor and a 1.00% NSR buy-back.

Adam McCool

The Adam McCool Property was staked directly by Canada Nickel as 72 contiguous mining claims (1,152 ha) with additional claims purchased from local prospectors for a total land package of 2,832 ha consisting entirely of mining claims owned 100% by Canada Nickel. Mining claims purchased by Canada Nickel are subject to a 2.00% NSR, 1.00% of which can be bought-back for $1 million . The claims with an NSR represent about 60% of the property.

Powell

The Powell Property was acquired through a Purchase Agreement with a single vendor. The vendor retains a 2.00% NSR with a 1.00% buy-back for $1 million .

Stimson-Mortimer-Moody

The Stimson, Mortimer and Moody Properties were staked directly by Canada Nickel as single cell mining claims and are not subject to an NSR. The total cost for staking was $10,750 . There are 215 mining claims totaling 3,440 ha. Each mining claim is 16 ha. Claims are valid for two years and require an exploration expenditure of $400 /claim thereafter to be renewed annually.

Additional Land Acquisition - Kingsmill and Mabee Townships

The Company has agreed to acquire the remaining patents in Kingsmill and Mabee township covering approximately 15,000 hectares from Noble Mineral Exploration in exchange for 500,000 shares of the Company.

Statement Regarding TSX Venture

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The completion of any transactions mentioned in this release is subject to customary closing conditions, including final TSX Venture Exchange approval. The common shares issued pursuant to the above noted acquisitions will be subject to a four month hold period under applicable Canadian securities laws. Some transactions may have been approved prior to this release.

Statement Regarding Historical Resource Estimates

The Sothman historical resource estimate is unclassified and does not comply with CIM Definition Standards on Mineral Resources and Mineral Reserves as required by NI 43-101. The historical resource was reported by D. R. Bell for Sothman Mines Limited on Oct. 1, 1969 , as 189,753 tons of 1.24% nickel and 0.15% Cu over an average width of 17.8 ft (undiluted) using a 1.00% nickel cut-off. The reliability of the historical resource is considered reasonable, but a qualified person has not done sufficient work to classify the historical resource estimate as a current mineral resource and the Company is not treating the historical resource estimate as a current resource. The Company plans on conducting an exploration program, including twinning of historical drill holes, to redefine the historical resource as a current mineral resource category.

Qualified Person and Data Verification

Stephen J. Balch P.Geo . (ON), VP Exploration of Canada Nickel and a "qualified person" as such term is defined by National Instrument 43-101, has verified the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of Canada Nickel Company Inc.

Conference Call Details

Date: Monday, November 22, 2021
Time: 10:00 a.m. ET
Participants may join the call as follows:
Dialing local Toronto : +1-416-764-8688
Dialing North American Toll Free: +1-888-390-0546
Dialing International Toll Free: available upon request

Webcast URL:  
https://produceredition.webcasts.com/starthere.jsp?ei=1514838&tp_key=41b4857d60

Confirmation #: 94728691

For those unable to participate, a web-based archive of the conference call will be available for playback at the same Audience URL used to access the live webcast.  Also, an audio replay will be available from 12:30 p.m. Eastern Time on Monday , November 22, 2021, through Monday, December 13, 2021 . To access the replay, please call 1-888-390-0541 (North American toll free) or 1-416-764-8677 (local or international) and enter confirmation code 728691#.

About Canada Nickel Company

Canada Nickel Company Inc. is advancing the next generation of nickel-sulphide projects to deliver nickel required to feed the high growth electric vehicle and stainless steel markets. Canada Nickel Company has applied in multiple jurisdictions to trademark the terms NetZero Nickel TM , NetZero Cobalt TM , NetZero Iron TM and is pursuing the development of processes to allow the production of net zero carbon nickel, cobalt, and iron products. Canada Nickel provides investors with leverage to nickel in low political risk jurisdictions. Canada Nickel is currently anchored by its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins - Cochrane mining camp. For more information, please visit www.canadanickel.com.

For further information, please contact:  

Mark Selby
Chair and CEO
Phone: 647-256-1954
Email: info@canadanickel.com

Cautionary Statement Concerning Forward-Looking Statements

This press release contains certain information that may constitute "forward-looking information" under applicable Canadian securities legislation.  Forward looking information includes, but is not limited to, drill and exploration results relating to the target properties described herein (the "Properties"), the potential of the Crawford Nickel Sulphide Project and the Properties, timing of economic studies and mineral resource estimates, the ability to sell marketable materials, strategic plans, including future exploration and development results, and corporate and technical objectives.  Forward-looking information is necessarily based upon several assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information.  Factors that could affect the outcome include, among  others:  future prices and the supply of metals, the future demand for metals, the results of drilling, inability to raise  the money necessary to incur the expenditures required to retain and advance the property, environmental liabilities  (known  and  unknown), general business, economic, competitive, political and social uncertainties, results of  exploration programs, risks of the mining industry, delays in obtaining governmental approvals, failure to obtain  regulatory or shareholder approvals, and the impact of COVID-19 related disruptions in relation to the Company's  business operations including upon its employees, suppliers, facilities and other stakeholders.  There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information.  Accordingly, readers should not place undue reliance on forward-looking information.  All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof.  Canada Nickel disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information, future events or otherwise, except as required by law.

Appendix

Table A – Collars

Hole ID

Property

Northing

Easting

Azimuth

Dip

Length



(mN-NAD27)

(mE-NAD27)

(o)

(o)

(m)

SM56-K11

Sothman West

5,299,305.0

481,535.0

180

-60

148.4

SM67-B06

Sothman West

5,299,281.8

481,575.8

180

-45

101.8

DG50-S04

Sothman West

5,299,235.0

481,714.0

131

-45

107.9

DG51-S20

Sothman West

5,299,112.9

481,750.5

0

-48

111.0

DG50-S05

Sothman West

5,299,224.0

481,767.0

180

-45

82.0

SM71-01

Sothman West

5,299,404.0

481,638.0

180

-68

426.7

SM71-02

Sothman West

5,299,385.0

481,487.0

180

-63

366.7

SM67-B25

Sothman

5,299,144.5

482,936.8

207

-45

91.2

SM67-B26

Sothman

5,299,069.3

482,692.9

207

-45

120.1

SM67-B27

Sothman

5,299,007.8

482,659.2

200

-45

121.6

SM67-B28

Sothman

5,298,937.8

482,650.8

191

-45

107.9

DG51-S12

Sothman

5,298,954.6

482,617.8

180

-45

148.4

DG51-S09

Sothman

5,299,124.3

482,107.5

206

-44

229.8

DG53-S41A

Sothman

5,298,932.2

483,982.2

175

-55

83.8

FY-02-01

Deloro

5,361,223.0

480,883.0

270

-45

102.0

FY-02-02

Deloro

5,361,232.0

480,387.0

223

-40

472.0

FY-02-03

Deloro

5,360,750.0

481,376.0

180

-45

100.0

FY-02-04

Deloro

5,360,987.0

481,945.0

345

-45

147.0

FY-02-05

Deloro

5,361,019.0

482,117.0

343

-50

172.0

FY-02-06

Deloro

5,361,309.0

480,561.0

100

-45

301.0

FY-02-07

Deloro

5,361,678.0

481,022.0

70

-45

77.0

FY-02-08

Deloro

5,361,629.0

481,012.0

75

-45

77.0

FY-02-09

Deloro

5,361,564.0

480,990.0

82

-45

125.0

FY-02-10

Deloro

5,361,124.0

480,240.0

37

-45

135.0

FY-02-11

Deloro

5,361,216.0

480,192.0

22

-45

115.0

FY-02-12

Deloro

5,361,085.0

480,267.0

55

-45

272.0

FY-02-13

Deloro

5,361,161.0

480,224.0

60

-60

318.0

1A

Mann Central

5,410,706.6

498,457.0

180

-60

57.9

2A

Mann Central

5,410,850.6

498,694.2

180

-50

128.7

3A

Mann Central

5,410,906.2

498,782.2

180

-45

80.6

4A

Mann Central

5,410,641.2

498,291.4

180

-70

37.5

INCO-1

Mann Central

5,409,763.7

497,819.1

180

-45

162.5

M-1

Mann Central

5,410,084.4

497,893.6

360

-45

213.7

M-2

Mann Central

5,410,312.5

496,873.2

180

-45

214.9

M-3

Mann Central

5,410,447.3

496,891.5

180

-45

172.9

M-4

Mann Central

5,410,662.2

496,900.1

180

-45

213.1

Table A – Collars (continued)

Hole ID

Property

Northing

Easting

Azimuth

Dip

Length

M-5

Mann Central

5,410,675.8

496,672.5

180

-45

172.6

M-6

Mann Central

5,410,454.5

496,683.0

180

-45

128.1

M-7

Mann Central

5,410,788.5

495,884.3

180

-45

172.9

M-8

Mann Central

5,410,852.2

495,864.3

360

-45

172.0

MA4-1-76

Mann Central

5,410,846.5

499,368.3

180

-50

134.2

MA4-2-76

Mann Central

5,410,725.8

499,366.5

180

-50

123.2

MA5-1-76

Mann Central

5,410,722.7

498,551.2

180

-50

138.1

MA5-2-76

Mann Central

5,410,108.0

498,351.5

180

-50

123.2

MAN43-01

Mann Central

5,410,157.8

498,349.5

360

-45

188.0

MAN43-02

Mann Central

5,410,255.4

499,225.2

180

-45

113.0

MAN43-03

Mann Central

5,410,152.9

498,539.9

180

-45

158.0

MN87-3

Mann Central

5,410,577.1

498,394.2

360

-50

151.2

87-01

Mann NW

5,412,224.9

494,853.7

270

-65

41.2

87-02

Mann NW

5,412,225.6

494,853.7

270

-80

35.4

79-01

Mann NW

5,413,332.9

495,724.4

190

-55

133.5

91-01

Mann NW

5,411,924.9

494,887.1

120

-48

246.0

FHR01-02

Mann NW

5,412,461.5

495,870.1

215

-45

137.0

FHR02-02

Mann NW

5,412,192.5

495,873.8

215

-45

161.0

FHR03-02

Mann NW

5,413,542.5

496,596.6

215

-45

170.0

H-88-1

Mann NW

5,412,164.8

494,936.1

225

-50

64.0

H-88-2

Mann NW

5,412,162.3

494,936.1

225

-65

61.0

H-88-3

Mann NW

5,412,162.6

494,937.2

225

-40

60.7

M-01-1

Mann NW

5,412,280.0

494,630.5

70

-45

192.0

M-01-2

Mann NW

5,411,887.5

494,880.9

55

-45

251.0

M-01-3

Mann NW

5,412,117.0

494,683.2

280

-45

150.0

M-01-4

Mann NW

5,412,080.0

494,686.2

45

-45

102.0

M-01-5

Mann NW

5,412,164.0

494,771.6

240

-45

150.0

M-01-6

Mann NW

5,412,156.9

494,787.6

240

-70

150.0

M96-1

Mann NW

5,411,921.3

494,847.2

172

-65

245.0

MAN-01

Mann NW

5,412,235.0

495,567.8

215

-45

200.3

MAN07-01

Mann NW

5,412,468.0

494,789.0

280

-50

102.0

MAN07-02

Mann NW

5,412,251.0

494,872.0

240

-48

126.0

MAN07-03

Mann NW

5,412,319.1

494,754.0

270

-48

108.0

MAN07-04

Mann NW

5,412,369.0

494,848.0

240

-46

141.0

MAN08-05

Mann NW

5,412,251.0

494,872.0

240

-48

60.0

MAN08-06

Mann NW

5,412,251.0

494,872.0

0

-90

60.0

MAN08-07

Mann NW

5,412,251.0

494,872.0

300

-48

75.0

MAN52-02

Mann NW

5,412,507.4

496,491.1

180

-45

179.0

MAN-73-6

Mann NW

5,412,367.0

495,208.9

180

-50

167.6

Table A – Collars (continued)

Hole ID

Property

Northing

Easting

Azimuth

Dip

Length

MAN-73-6

Mann NW

5,412,358.5

494,887.8

180

-50

167.6

MAN-87-1

Mann NW

5,412,274.6

494,791.6

270

-65

41.2

MAN-87-1

Mann NW

5,412,375.5

494,775.7

270

-65

41.2

MAN-87-2

Mann NW

5,412,251.0

494,793.5

270

-80

35.4

MAN-87-2

Mann NW

5,412,356.1

494,776.2

270

-80

35.4

MAN-88-1

Mann NW

5,412,098.9

494,880.2

235

-50

64.0

MAN-88-1

Mann NW

5,412,077.5

494,846.5

235

-50

64.0

MAN-88-2

Mann NW

5,412,070.5

494,878.4

235

-65

61.0

MAN-88-2

Mann NW

5,412,044.5

494,842.1

235

-65

61.0

MAN-88-3

Mann NW

5,412,046.0

494,872.6

235

-40

60.7

MAN-88-3

Mann NW

5,412,015.5

494,843.9

235

-40

60.7

MAN-91-1

Mann NW

5,411,812.0

494,843.2

120

-48

246.0

MAN-91-1

Mann NW

5,411,815.5

494,866.9

120

-48

246.0

MAN-96-1

Mann NW

5,411,779.5

494,862.6

172

-65

279.8

MD-06-4

Mann NW

5,412,250.1

496,400.0

360

-50

260.0

73-01

Mann SE

5,407,714.3

503,532.3

273

-56

159.8

73-10

Mann SE

5,409,611.1

503,128.9

230

-54

125.0

73-02

Mann SE

5,407,421.6

503,682.0

273

-55

166.8

73-03

Mann SE

5,406,989.3

503,547.8

273

-50

152.1

73-04

Mann SE

5,408,652.6

502,940.7

183

-51

144.5

73-05

Mann SE

5,408,627.3

501,849.5

183

-50

109.5

73-06

Mann SE

5,408,961.4

501,738.5

183

-50

112.5

MAN35-01

Mann SE

5,408,387.8

503,614.6

220

-45

149.0

MAN45-01

Mann SE

5,409,991.9

501,335.1

180

-45

245.0

MAN45-02

Mann SE

5,409,950.4

501,605.7

180

-45

211.3

MAN52-01

Mann SE

5,406,451.4

502,850.9

360

-45

219.0

28482

Reaume

5,421,363.0

487,600.0

0

-50

248.0

28483

Reaume

5,422,007.0

488,260.0

270

-50

301.0

REA-45-04

Reaume

5,421,707.0

488,542.0

180

-50

368.0

REA-45-05

Reaume

5,421,932.0

488,576.0

180

-50

308.0

REA-45-06

Reaume

5,422,212.0

488,604.0

180

-50

320.0

REA-45-07

Reaume

5,422,398.0

488,610.0

180

-50

299.0

REA-45-08

Reaume

5,421,684.0

487,735.0

180

-50

199.4

DH-01

Reaume

5,422,601.0

488,298.0

0

-90

95.0

DH-02

Reaume

5,422,601.0

489,004.0

0

-90

103.6

REA-45-03

Reaume

5,422,190.0

488,903.0

180

-50

335.0

REA-46-01

Reaume

5,422,850.0

488,016.0

180

-50

419.4

R-78-1

Reaume

5,421,678.0

486,639.0

210

-45

49.7

LM08-01

Midlothian

5,303,260.0

499,195.0

180

-50

400.2

Table A – Collars (continued)

Hole ID

Property

Northing

Easting

Azimuth

Dip

Length

LL1

Midlothian

5,302,980.0

499,242.0

6

-45

165.8

LL2

Midlothian

5,302,870.0

499,192.0

6

-45

163.1

LL3

Midlothian

5,302,870.0

499,194.0

186

-45

160.0

A-121

Midlothian

5,302,910.0

498,866.0

187

-45

91.4

A-126

Midlothian

5,302,820.0

499,021.0

188

-45

152.7

501

Midlothian

5,302,620.0

501,288.0

25

-45

196.3

505

Midlothian

5,302,630.0

501,288.0

205

-45

82.0

506

Midlothian

5,302,590.0

501,369.0

25

-45

301.8

507

Midlothian

5,302,620.0

501,289.0

340

-45

280.7

A-131

Midlothian

5,302,520.0

500,429.0

183

-45

115.8

503

Midlothian

5,302,650.0

498,883.0

181

-45

121.9

504

Midlothian

5,302,660.0

498,883.0

1

-45

121.9

502

Midlothian

5,303,250.0

499,094.0

352

-45

146.6

MD-17-008

Midlothian

5,303,230.0

499,727.0

280

-50

38.0

MD-17-009

Midlothian

5,303,230.0

499,727.0

300

-50

38.0

MD-17-007

Midlothian

5,303,230.0

499,727.0

220

-50

67.0

MD-17-006

Midlothian

5,303,230.0

499,727.0

260

-55

38.0

MD-17-005

Midlothian

5,303,230.0

499,727.0

260

-89

53.0

MD-17-004

Midlothian

5,303,220.0

499,709.0

256

-49

19.9

MD-17-003

Midlothian

5,303,220.0

499,709.0

220

-84

35.0

MD-17-002

Midlothian

5,303,220.0

499,709.0

220

-45

29.0

MD-17-001

Midlothian

5,303,220.0

499,709.0

220

-60

29.0

LL6

Midlothian

5,303,020.0

499,770.0

185

-45

166.4

516

Midlothian

5,303,350.0

502,009.0

360

-45

137.2

515

Midlothian

5,303,350.0

502,014.0

0

-90

150.3

514

Midlothian

5,303,180.0

502,010.0

0

-90

154.5

LL7

Midlothian

5,302,990.0

498,825.0

187

-50

160.7

LL4

Midlothian

5,303,120.0

499,410.0

185

-45

164.6

LL5

Midlothian

5,303,020.0

499,030.0

187

-45

165.9

R-22

Reid

5,403,720.0

456,699.0

Grid W

-50

171.0

R-18

Reid

5,404,480.0

456,224.0

Grid E

-50

96.9

T67-1

Reid

5,405,400.0

456,745.0

35

-50

128.3

T67-2

Reid

5,405,510.0

456,709.0

210

-49

59.7

1-63

McCool

5,384,613.0

566,975.6

360

-85

122.0

2-63

McCool

5,383,250.0

566,050.3

35

-60

188.0

3-63

McCool

5,384,550.8

567,035.3

0

-90

150.9

1586-1

McCool

5,384,110.0

567,059.1

0

-90

33.8

D-1

McCool

5,383,880.8

567,597.7

54

-45

279.6

View original content to download multimedia: https://www.prnewswire.com/news-releases/canada-nickel-expands-timmins-nickel-district--acquires-13-additional-highly-prospective-nickel-properties-in-timmins-region-301429663.html

SOURCE Canada Nickel Company Inc.

View original content to download multimedia: https://www.newswire.ca/en/releases/archive/November2021/22/c5431.html

News Provided by Canada Newswire via QuoteMedia

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Nickel bars in front of a world map.

Top 9 Nickel-producing Countries

The top nickel producing countries list has been shaken in recent years by Indonesia's rapid rise to the top, beating the Philippines and New Caledonia.

Demand for nickel is mounting. Stainless steel accounts for the vast majority of nickel demand, but electric vehicle (EV) batteries represent a growing application for the base metal as the shift toward a greener future gains steam.

But while nickel's long-term outlook appears bright, it may face headwinds in the short term. Nickel prices have been trending down since breaking US$20,000 per metric ton in May 2024 as weak usage coincides with strong output from top producer Indonesia.

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First Atlantic Nickel to Attend Benchmark Mineral Intelligence's GIGA USA 2025 Conference, Highlighting Atlantic Nickel Project's Smelter-Free Processing for North America's Critical Minerals Supply Chain

First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) ("First Atlantic" or the "Company") is pleased to announce its participation at the Benchmark Mineral Intelligence GIGA USA 2025 conference, taking place June 3-4, 2025, in Washington, DC. The Company will participate in strategic meetings during this critical mineral conference to demonstrate how its Atlantic Nickel Project addresses the growing need for nickel mining that can be completely processed in North America. The Atlantic Nickel Project contains nickel in the form of awaruite, a naturally occurring, sulfur-free, highly magnetic mineral with approximately 75% nickel content. These unique properties enable direct processing through magnetic separation and flotation, eliminating reliance on foreign overseas smelting or roasting operations. This simplified mineral processing method significantly lowers energy requirements and reduces environmental impacts, strengthening the development of a resilient, domestic critical minerals supply chain.

The GIGA USA conference brings together key players from across the critical minerals sector for two days of networking, dealmaking, and policy discussions. Attendees include major automakers such as Tesla, Ford, General Motors, Rivian, Mercedes-Benz, and Volkswagen; battery manufacturers like LG Energy Solutions, Samsung SDI, and Panasonic Energy; and global mining companies including Rio Tinto, Vale, Glencore, South32, and Anglo American. Government representatives from the U.S. Department of Energy, U.S. Department of Commerce, U.S. Department of Defense, U.S. Department of State, the Government of Quebec, the Embassy of Canada, and the Delegation of the European Union will also attend. Conference topics will address the expansion of the United States' lithium-ion battery gigafactory industry and the need to establish secure, sustainable supply chains for critical raw materials, including lithium, nickel, graphite, cobalt, manganese and rare earth elements.

The conference addresses key areas of focus including strengthening the U.S. critical minerals supply chain through domestic production and expanded gigafactory capacity, examining policy and trade impacts, such as the Inflation Reduction Act (IRA), and enhancing national security through critical mineral independence. The conference will also focus on investment and financing opportunities for next-generation mining projects, innovations in battery technology and sustainability, and the importance of global collaboration and strategic partnerships.

The Company's Atlantic Nickel Project offers a secure and reliable solution for domestic nickel production. By leveraging awaruite's sulfur-free composition, high nickel content and magnetic properties, the project enables simple processing through magnetic separation and flotation without the need for secondary processing such as smelting or roasting. Unlike traditional nickel sulfide and laterite projects that undergo energy-intensive processes creating harmful waste and emissions, awaruite's metallurgical properties enable complete domestic nickel production while eliminating reliance on overseas processing. The lower energy requirements and sulfur-free nature of awaruite result in a reduced carbon and environmental footprint. The Company remains committed to strengthening North American critical minerals supply chains, with the Atlantic Nickel Project positioned to provide a secure, reliable nickel source for North American industries including electric vehicles, batteries, defense, and stainless steel manufacturing.

Conference Meeting Requests

First Atlantic welcomes the opportunity to meet with strategic partners, shareholders and investors during the GIGA USA 2025 conference. Interested parties are encouraged to contact Rob Guzman at rob@fanickel.com or by phone at 844-592-6337 to arrange meetings. The conference takes place June 3-4, 2025 in Washington, DC.

Phase 2 Drilling Update

The Phase 2 drilling program is currently underway and successfully expanding the awaruite mineralization identified in multiple drill holes during the Phase 1 campaign. Technical improvements, including optimized HQ/NQ drill configurations and enhanced drill bit selection, have enabled the current program to reach greater depths than previously achieved. The Company anticipated providing updates on the Phase 2 drill holes in the coming weeks.

For further information, questions, or investor inquiries, please contact Rob Guzman at First Atlantic Nickel by phone at +1-844-592-6337 or via email at rob@fanickel.com

Corporate Update

The Company also announces that on May 21, 2025 it closed the definitive agreement dated May 6, 2025 (the "Purchase Agreement") to acquire a 100% interest in eight mineral licenses totaling approximately 3,350 hectares. These licenses are strategically located around the Company's Atlantic Nickel Project in central Newfoundland, in the Cold Spring Pod and Coy Pond areas. Under the terms of the Purchase Agreement, the Company has issued 1,000,000 Shares at a deemed price of $0.205 per Share. These Shares are subject to a statutory hold period of four months and one day, in accordance with applicable Canadian securities laws. And further to its May 6, 2025 news release, it closed the previously announced settlement agreement (the "Settlement Agreement") on May 22, 2025, to settle outstanding obligations totaling $202,950 owed to an arm's length creditor (the "Creditor") related to accounting services provided under a consulting agreement dating back to 2017. Pursuant to the Settlement Agreement, the Company has issued an aggregate of 312,500 common shares (each, a "Share") at a deemed price of $0.32 per Share. These Shares will be released in three equal tranches over a 12-month period and are subject to a statutory hold period of four months and one day, in accordance with applicable Canadian securities laws.

Awaruite (Nickel-iron alloy Ni₂Fe, Ni₃Fe)

Awaruite, a naturally occurring sulfur-free nickel-iron alloy composed of Ni₃Fe or Ni₂Fe with approximately ~75% nickel content, offers a proven and environmentally safe solution to enhance the resilience and security of North America's domestic critical minerals supply chain. Unlike conventional nickel sources, awaruite can be processed into high-grade concentrates exceeding 60% nickel content through magnetic processing and simple floatation without the need for smelting, roasting, or high-pressure acid leaching 1 . Beginning in 2025, the US Inflation Reduction Act's (IRA) $7,500 electric vehicle (EV) tax credit mandates that eligible clean vehicles must not contain any critical minerals processed by foreign entities of concern (FEOC) 2 . These entities include Russia and China, which currently dominate the global nickel smelting industry. Awaruite's smelter-free processing approach could potentially help North American electric vehicle manufacturers meet the IRA's stringent critical mineral requirements and reduce dependence on FEOCs for nickel processing.

The U.S. Geological Survey (USGS) highlighted awaruite's potential, stating, "The development of awaruite deposits in other parts of Canada may help alleviate any prolonged shortage of nickel concentrate. Awaruite, a natural iron-nickel alloy, is much easier to concentrate than pentlandite, the principal sulfide of nickel." 3 Awaruite's unique properties enable cleaner and safer processing compared to conventional sulfide and laterite nickel sources, which often involve smelting, roasting, or high-pressure acid leaching that can release toxic sulfur dioxide, generate hazardous waste, and lead to acid mine drainage. Awaruite's simpler processing, facilitated by its amenability to magnetic processing and lack of sulfur, eliminates these harmful methods, reducing greenhouse gas emissions and risks associated with toxic chemical release, addressing concerns about the large carbon footprint and toxic emissions linked to nickel refining.

First Atlantic Nickel Corp.

Figure 1: Quote from USGS on Awaruite Deposits in Canada

The development of awaruite resources is crucial, given China's control in the global nickel market. Chinese companies refine and smelt 68% to 80% of the world's nickel 4 and control an estimated 84% of Indonesia's nickel output, the largest worldwide supply 5 . Awaruite is a cleaner source of nickel that reduces dependence on foreign processing controlled by China, leading to a more secure and reliable supply for North America's stainless steel and electric vehicle industries.

Investor Information

The Company's common shares trade on the TSX Venture Exchange under the symbol " FAN ", the American OTCQB Exchange under the symbol " FANCF " and on several German exchanges, including Frankfurt and Tradegate, under the symbol " P21 ".

Investors can get updates about First Atlantic by signing up to receive news via email and SMS text at www.fanickel.com . Stay connected and learn more by following us on these social media platforms:

https://x.com/FirstAtlanticNi

https://www.facebook.com/fanickelcorp

https://www.linkedin.com/company/firstatlanticnickel/

FOR MORE INFORMATION:
First Atlantic Investor Relations
Robert Guzman
Tel: +1 844 592 6337
rob@fanickel.com

Disclosure

Adrian Smith, P.Geo., a director and the Chief Executive Officer of the Company is a qualified person as defined by NI 43-101. The qualified person is a member in good standing of the Professional Engineers and Geoscientists Newfoundland and Labrador (PEGNL) and is a registered professional geoscientist (P.Geo.). Mr. Smith has reviewed and approved the technical information disclosed herein.

About First Atlantic Nickel Corp.

First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) is a Canadian mineral exploration company developing the 100%-owned Atlantic Nickel Project, a large-scale nickel project strategically located near existing infrastructure in Newfoundland, Canada. The Project's nickel occurs as awaruite, a natural nickel-iron alloy containing approximately 75% nickel with no-sulfur and no-sulfides. Awaruite's properties allow for smelter-free magnetic separation and concentration, which could strengthen North America's critical minerals supply chain by reducing foreign dependence on nickel smelting. This aligns with new US Electric Vehicle US IRA requirements, which stipulate that beginning in 2025, an eligible clean vehicle may not contain any critical minerals processed by a FEOC (Foreign Entities Of Concern) 6 .

First Atlantic aims to be a key input of a secure and reliable North American critical minerals supply chain for the stainless steel and electric vehicle industries in the USA and Canada. The company is positioned to meet the growing demand for responsibly sourced nickel that complies with the critical mineral requirements for eligible clean vehicles under the US IRA. With its commitment to responsible practices and experienced team, First Atlantic is poised to contribute significantly to the nickel industry's future, supporting the transition to a cleaner energy landscape. This mission gained importance when the US added nickel to its critical minerals list in 2022, recognizing it as a non-fuel mineral essential to economic and national security with a supply chain vulnerable to disruption.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking statements:

This news release may include "forward-looking information" under applicable Canadian securities legislation. Such forward-looking information reflects management's current beliefs and are based on a number of estimates and/or assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information.

Forward-looking information in this news release includes, but is not limited to: statements regarding: the timing, scope and results of the Company's Phase 1 and Phase 2 work and drilling programs; future project developments; the Company's objectives, goals, and future plans; statements and estimates of market conditions; the viability of magnetic separation as a low-impact processing method for awaruite; the strategic and economic implications of the Company's projects   ; and expectations regarding future developments and strategic plans;   Readers are cautioned that such forward-looking information are neither promises nor guarantees and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base and other metals, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining and clean energy industries. Additional factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on http://www.sedarplus.ca. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.

The Company is presently an exploration stage company. Exploration is highly speculative in nature, involves many risks, requires substantial expenditures, and may not result in the discovery of mineral deposits that can be mined profitably. Furthermore, the Company currently has no mineral reserves on any of its properties. As a result, there can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking information, except as required by applicable securities laws.

News Provided by GlobeNewswire via QuoteMedia

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Ni-Co Energy

Ni-Co Energy Set to Mobilize Critical Minerals Exploration just 90 km from Montreal

Ni-Co Energy Inc. announces that its technical team will be mobilized to the Kremer property around mid-June 2025. The project is located approximately 90 km north of downtown Montreal and about 15 km from the nearest municipality, in a remote forested area with access via an existing road and close proximity to the hydroelectric grid.

Meet The Team:

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Nickel Outlook: World Edition

Nickel Outlook: World Edition

Nickel Outlook: World Edition

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First Atlantic Nickel Extends Strike Length of RPM Zone Discovery by 400 Meters, Intersecting .23% Nickel Over 396 Meters in Fourth Drill Hole

First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) ("First Atlantic" or the "Company") is excited to report assay results from drill hole AN-24-05, the fourth and final hole of the Phase 1 drilling program at the RPM Zone, located within its 100%-owned Atlantic Nickel Project in central Newfoundland. This hole, positioned as a 400-meter step-out to the north of the initial discovery hole (AN-24-02), intersected 396 meters grading 0.23% nickel and 0.29% chromium, starting after 6 meters of overburden and continuing to the end of the hole. These results confirm an initial 400-meter north-south mineralized strike length of near surface mineralization.

News Provided by GlobeNewswire via QuoteMedia

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